KBC Group NV Has $113.72 Million Stock Holdings in FedEx Corporation $FDX

KBC Group NV trimmed its position in FedEx Corporation (NYSE:FDX) by 7.5% during the first quarter, Holdings Channel reports. The institutional investor owned 319,278 shares of the shipping service provider’s stock after selling 25,949 shares during the quarter. KBC Group NV’s holdings in FedEx were worth $113,720,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in FDX. Norges Bank bought a new stake in shares of FedEx during the fourth quarter worth $859,085,000. Boston Partners acquired a new position in shares of FedEx during the third quarter valued at $468,195,000. AQR Capital Management LLC boosted its holdings in FedEx by 169.2% in the third quarter. AQR Capital Management LLC now owns 2,733,905 shares of the shipping service provider’s stock valued at $638,203,000 after acquiring an additional 1,718,278 shares during the last quarter. Waddell & Associates LLC boosted its holdings in FedEx by 164.0% in the fourth quarter. Waddell & Associates LLC now owns 1,188,140 shares of the shipping service provider’s stock valued at $343,206,000 after acquiring an additional 738,122 shares during the last quarter. Finally, Two Sigma Investments LP increased its position in FedEx by 3,211.5% in the third quarter. Two Sigma Investments LP now owns 549,306 shares of the shipping service provider’s stock worth $129,532,000 after purchasing an additional 532,718 shares during the period. 84.47% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Citizens Jmp began coverage on FedEx in a report on Wednesday, July 15th. They set a “market outperform” rating and a $375.00 price objective for the company. Citigroup assumed coverage on shares of FedEx in a research note on Wednesday. They issued an “outperform” rating on the stock. Evercore set a $165.00 price target on shares of FedEx in a research report on Friday, June 26th. Deutsche Bank Aktiengesellschaft downgraded shares of FedEx from a “buy” rating to a “hold” rating in a research note on Wednesday, May 27th. Finally, Bank of America increased their price objective on shares of FedEx from $376.00 to $378.00 and gave the company a “buy” rating in a report on Wednesday, June 24th. One research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $350.54.

Insider Activity

In other news, Director Paul S. Walsh sold 5,042 shares of the business’s stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of $324.56, for a total value of $1,636,431.52. Following the completion of the transaction, the director owned 16,359 shares of the company’s stock, valued at $5,309,477.04. The trade was a 23.56% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.53% of the stock is owned by company insiders.

FedEx Stock Performance

Shares of FDX stock opened at $313.17 on Monday. The stock has a market cap of $74.72 billion, a PE ratio of 16.92, a price-to-earnings-growth ratio of 1.61 and a beta of 1.29. The stock has a 50-day moving average of $342.12 and a 200-day moving average of $349.62. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.48 and a quick ratio of 1.44. FedEx Corporation has a one year low of $172.88 and a one year high of $345.36.

FedEx (NYSE:FDX) last released its quarterly earnings data on Tuesday, June 23rd. The shipping service provider reported $6.31 earnings per share for the quarter, topping the consensus estimate of $5.91 by $0.40. The business had revenue of $25.01 billion for the quarter, compared to analyst estimates of $24.04 billion. FedEx had a net margin of 4.68% and a return on equity of 16.49%. FedEx’s quarterly revenue was up 12.5% compared to the same quarter last year. During the same quarter last year, the firm earned $6.07 EPS. FedEx has set its FY 2027 guidance at 16.900-18.100 EPS. As a group, sell-side analysts expect that FedEx Corporation will post 17.6 earnings per share for the current year.

FedEx Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 7th. Stockholders of record on Monday, June 22nd were given a dividend of $1.22 per share. This represents a $4.88 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend was Monday, June 22nd. FedEx’s dividend payout ratio (DPR) is currently 26.36%.

FedEx Company Profile

FedEx Corporation (NYSE: FDX) is a global logistics and courier company headquartered in Memphis, Tennessee. Founded by Frederick W. Smith in 1971 and beginning operations in the early 1970s, the company pioneered overnight express shipping and has since expanded into a diversified portfolio of transportation, e-commerce and supply-chain services. FedEx operates an integrated air-and-ground network that moves parcels, freight and documents for businesses and consumers worldwide.

FedEx’s core operating segments include express parcel delivery via its FedEx Express division, domestic and residential parcel delivery through FedEx Ground, less-than-truckload (LTL) freight services, and logistics and supply-chain management solutions.